Author Topic: FIRE with 700k in oklahoma with a family?  (Read 2388 times)


  • Stubble
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FIRE with 700k in oklahoma with a family?
« on: September 21, 2018, 06:14:29 PM »
Let me know if this sounds reasonable. For a family with 2 kids, if you retire in Oklahoma, it seems all you need is 700K. Here is detailed expense breakdown

Rent: 600 (There are several 2BR apts for this price but here is one for 510
Grocery & Household: 450
Utilities+internet+wireless: 300
Health Insurance: 300
Car: 200
Misc (clothes, gadgets, one time buys): 250
Total: 2100
Yearly Total: 25K

Assuming a buffer of 3K, a total of 28K which will need a profile of 700K.

What do you all think of this? Any downsides? How is Oklahoma for living and retiring?


  • Walrus Stache
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Re: FIRE with 700k in oklahoma with a family?
« Reply #1 on: September 21, 2018, 06:39:04 PM »
Maybe you missed the huge teacher's strike there last spring?  Oklahoma schools are among the worst funded in the country.  Because the entire state budget is in the dumpster.  Not exactly a retirement paradise in my book....


  • Pencil Stache
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Re: FIRE with 700k in oklahoma with a family?
« Reply #2 on: September 21, 2018, 07:12:22 PM »
Moving to a state with underfunded schools, and no Medicaid expansion (we don't need no Washington fat cats telling US whut to do!), and with a growing opioid addiction crisis seems like a not well thought out retirement option. What are you going to do all day? Sit around in a cheap apartment with your wife and kids? The one who hates going to school now (I've read your other posts) is not going to like it any better there. And your plan to gift each child $750K to fund their lives won't pan out in your potential poverty plan. Do you have family or friends there?

I'd advise going back to the drawing board on this one. Others may have different viewpoints.


  • Bristles
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Re: FIRE with 700k in oklahoma with a family?
« Reply #3 on: September 30, 2018, 06:10:54 AM »
I lived in Tulsa as a young adult and liked it, but the schools would give me major pause now that I have kids, but maybe you're planning to homeschool?

A few other things to consider:
- I'm assuming your health insurance cost is either subsidized (putting you at risk that the ACA will go away) or is a HDHP (putting you at risk for significant medical expenses). Also you could end up in that income range where you're not covered by either Medicaid or the ACA but I'm not super familiar with how that works.
- You say your wife isn't naturally frugal, so she could end up really resentful (PP made me curious so I skimmed your past posts too).
- You have no budget for travel. Is your wife willing to commit to never visiting her home country again?  And to not having the ability to help out her family members at all? (I don't know what the relationship with her family is like but I know the cultural expectations can be strong).
- How are you going to pay for replacement vehicles when you need them?
Overall, this might be technically doable but it's not a life I would choose.
« Last Edit: September 30, 2018, 04:02:46 PM by nessness »


  • Bristles
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Re: FIRE with 700k in oklahoma with a family?
« Reply #4 on: September 30, 2018, 10:36:28 AM »
I live in Tulsa and love it in so many ways, but it is no secret that Oklahoma has many, many problems. I do believe that change is coming, but there is so much that needs to be improved.

Things that I love here: the people, little traffic comparatively, a low COL, our growing downtown area, the Gathering Place (Google to read about - it is incredible). Itís called Green Country for a reason.

Things that I do not love: education (though our kids go to a fantastic public middle and high school, so itís not all bad), the racial and socioeconomic silos that still exist throughout the city, lack of decent public transportation (theyíre working on it,, healthcare issues noted above, and dreadful state leadership.

RiverChase is very affordable, yes, but there is a reason for that. Read up about crime in the area and specifically at that apartment complex. Their website makes it look a lot different than it does in reality. Have you ever been to Tulsa? If not, Iíd try to spend a week here, talking to the locals and seeing what the city has to offer and what it lacks.

(Also, while your budget notes health insurance costs, it does not contain out of pocket medical expenses. This is a major line item in our budget, so it jumped out at me.)


  • Bristles
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Re: FIRE with 700k in oklahoma with a family?
« Reply #5 on: September 30, 2018, 11:35:50 AM »
How much does it cost to buy a condo like that in the same area in OK? Maybe buying is a better option than renting?

I'm a red panda

  • Walrus Stache
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Re: FIRE with 700k in oklahoma with a family?
« Reply #6 on: September 30, 2018, 01:26:22 PM »
Where are you finding family insurance for $300?
Do the kids do any activities? Will you ever vacation?


  • 5 O'Clock Shadow
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Re: FIRE with 700k in oklahoma with a family?
« Reply #7 on: October 04, 2018, 11:49:39 AM »
I've lived in Oklahoma all of my life.  Currently have been living in Tulsa/Jenks for the past 20 years.  Tulsa and Oklahoma are great for a lot of reasons.  YEAH - Gathering Place!!  Great LCOL, little to no traffic, etc.  But, as others have pointed out there are a lot of negatives that have been mentioned previously. 

The apartment you linked to is ick.  The location is ick.  You aren't going to find a decent place to live here for under $800 per month.  However, real estate in some of the outer areas of town is inexpensive compared to the rest of the US.  You can buy a really nice 3 bed 2 bath house for under $200k here. 

The public school system is a mess.  But there are a few districts (such as Jenks where my child went) that are fantastic.  You would need to really do your homework before settling into a place with children.

Sounds like you need to do some more research.  I'm sure those of us that live here would welcome any other questions you may have or point you to some resources.


  • 5 O'Clock Shadow
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Re: FIRE with 700k in oklahoma with a family?
« Reply #8 on: October 09, 2018, 02:03:38 PM »
I've lived in OKC most of my life, its really pretty great. What you might see on the national news isn't the everyday experience for someone that lives in OKC or Tulsa. Both cities are growing and adding crazy amounts of new food and entertainment options at all price levels.

As other posters have alluded to, with schools there is A LOT of variance. There are lots of suburban districts that have good housing options, especially to buy. In the inner cities there are more and more charter schools, many of them ranked highly nationally. Regular OKC and Tulsa Public Schools are abysmal. And its not because they don't have enough money. The schools that suffer from funding problems are the small town schools with declining enrollments.

Places like OKC and Tulsa are almost unmatched in quality of life. You get 80-90% of the cultural amenities of bigger cities at a fraction of the cost and very little traffic. These are million plus people metros so there are all types of folks. If you want to be an open carry, republican type of guy, you can be that guy. If you want to be as liberal as a left coastie, you might be surprised how many people there are like you in the cities.